What does "Social Security number issued for randomized issuance:N" mean? In the past I have only seen "Social Security number issued for randomized issuance:Y...."
Is there a place where we can see a description of all response codes for Chex Systems?
What’s the most severe penalty for a military lending violation you’ve seen?
What action steps are needed when we find a severe or frequent violation?
Why is a permissible purpose needed to get someone’s credit report?
In its $28.5 million settlement with Navy Federal Credit Union (NFCU), the Consumer Financial Protection Bureau (CFPB) stated that NFCU's collection letters contained material misrepresentations – or unfair or deceptive abusive acts or practices – that were likely to mislead consumers; how did NFCU's templates violate UDAAP?
In May 2019, the CFPB issued a Notice of Proposed Rulemaking (NPRM) for the Fair Debt Collection Practices Act (FDCPA); how has this rule updated the antiquated FDCPA? the NPRM will likely have a dramatic impact on collection practices for debt collectors.
Did the Supreme Court’s decision in Henson v. Santander Consumer USA, Inc. obviate the necessity for first party creditors to comply with the CFPB’s debt collection rules?
For years, the Consumer Financial Protection Bureau (CFPB) has promised to prioritize rulemaking based on consumer complaints. The proposed rule was released in May 2019, but what effect, if any, does the proposed rule have on first-party creditors? What other regulatory concerns related to debt collection should my bank be aware of?
How are the CFPB and FTC protecting military consumers from first-party debt collection?
I understand that you must report the FCRA info on adverse actions if you used information from a credit report to deny the loan, but does this include using the debt listed on the credit report as well? We did not deny based on the credit score (over 700) but did deny due to excessive obligations in relation to income.